Discussion:
Tapping the SPR
Add Reply
chromebook test
2021-11-23 19:30:44 UTC
Reply
Permalink
Chuck Schumer (D): President Biden's announcement is good news for American
families and will strengthen our economy. Tapping the SPR will provide
much-needed temporary relief at the pump and will signal to OPEC that they
cannot recklessly manipulate supply to artificially inflate gas prices.
How big are China's crude oil reserves and how do they compare to the US' SPR?

China's Iranian oil buying spree





-------

https://www.scmp.com/economy/china-economy/article/3156952/how-big-are-chinas-crude-oil-reserves-and-how-do-they-compare

https://www.reuters.com/world/middle-east/chinas-iranian-oil-buying-spree-crushes-demand-brazil-angola-crude-2021-04-14/




Israelis who do not understand the danger of too much success are impatient at British and U.S. concern for Arab friendship. They shout "Oil!" as if nothing but profits were involved. The same oil, which the Arabs can shut off, is an essential part of the world's hope of recovery; without that recovery, the dream of Israel as a prosperous trading nation cannot come true. The same oil is an essential part of the defense of the West. Without that defense Israel, a democratic state, is lost.

https://groups.google.com/g/rec.arts.tv/c/wARVyJ7ElXo/m/6Cc6zuU1mSEJ







TAGS: #willitgoroundincircles?
chromebook test
2021-11-24 02:34:28 UTC
Reply
Permalink
Chuck Schumer (D): President Biden's announcement is good news for American
families and will strengthen our economy. Tapping the SPR will provide
much-needed temporary relief at the pump and will signal to OPEC that they
cannot recklessly manipulate supply to artificially inflate gas prices.
Reminder: When Trump tried to fill the Strategic Petroleum Reserve when oil
prices were low, Democrats like Chuck Schumer and Kamala Harris blocked him.
Of course the Bidenistas could allow more U.S. production instead of releasing
our emergency reserves, but that would make too much sense.
The budget deal that the U.S. Congress passed and President Donald Trump signed into law last Friday calls for selling 100 million barrels of the Strategic Petroleum Reserve (SPR) by 2027 to help fund the government.

The sale of 100 million barrels of crude oil in the next decade would represent the largest non-emergency sell-off of strategic oil reserves and would equate to some 15% of the current stockpiles in the SPR.

The mandate for the SPR sale has drawn criticism because, some experts say, it would blunt the purpose of the strategic reserve to mitigate major global oil supply disruptions or price shocks. Other critics have said that tapping the emergency oil reserve for non-energy needs of the government is short-sighted and that the SPR should not be used as a “government ATM.”


https://groups.google.com/g/rec.arts.tv/c/Hbvpz2eCx7w/m/v3RJvz0SAwAJ



TAGS: #whenigetyoualoan
BTR1701
2021-11-24 02:59:20 UTC
Reply
Permalink
On Nov 23, 2021 at 11:30:44 AM PST, "chromebook test
Post by chromebook test
Chuck Schumer (D): President Biden's announcement is good news for American
families and will strengthen our economy. Tapping the SPR will provide
much-needed temporary relief at the pump and will signal to OPEC that they
cannot recklessly manipulate supply to artificially inflate gas prices.
How big are China's crude oil reserves and how do they compare to the US
SPR?
The White House said it had ordered 50 million barrels of oil released fro
the strategic reserve to bring down energy costs.

We use around 20 million barrels of oil PER DAY.

This is like sharing a box of toothpicks in response to the lumber shortage.
chromebook test
2021-11-24 03:16:02 UTC
Reply
Permalink
On Nov 23, 2021 at 11:30:44 AM PST, "chromebook test"
Post by chromebook test
Chuck Schumer (D): President Biden's announcement is good news for American
families and will strengthen our economy. Tapping the SPR will provide
much-needed temporary relief at the pump and will signal to OPEC that they
cannot recklessly manipulate supply to artificially inflate gas prices.
How big are China's crude oil reserves and how do they compare to the US' SPR?
The White House said it had ordered 50 million barrels of oil released from
the strategic reserve to bring down energy costs.
We use around 20 million barrels of oil PER DAY.
This is like sharing a box of toothpicks in response to the lumber shortage.
The SPR oil was purchased for $30 a barrel and is being sold for $80 a barrel. Quite a markup, like money in the bank drawing a positive interest rate, unlike Treasuries which, after inflation, are giving a negative return.

18 million barrels are being sold exclusively to service the government debt obligations.
shawn
2021-11-24 03:41:24 UTC
Reply
Permalink
On Nov 23, 2021 at 11:30:44 AM PST, "chromebook test"
Post by chromebook test
Chuck Schumer (D): President Biden's announcement is good news for American
families and will strengthen our economy. Tapping the SPR will provide
much-needed temporary relief at the pump and will signal to OPEC that they
cannot recklessly manipulate supply to artificially inflate gas prices.
How big are China's crude oil reserves and how do they compare to the US' SPR?
China is an importer of oil and experiencing shortage of gasoline. You
can watch this video to get an idea:

Why is there a gas shortage in China? Chinese pay more for gas than
Americans while 1/5 income
BTR1701
2021-11-24 03:44:16 UTC
Reply
Permalink
Post by shawn
On Nov 23, 2021 at 11:30:44 AM PST, "chromebook test"
Post by chromebook test
Chuck Schumer (D): President Biden's announcement is good news fo
American
families and will strengthen our economy. Tapping the SPR will provide
much-needed temporary relief at the pump and will signal to OPEC that they
cannot recklessly manipulate supply to artificially inflate gas prices.
How big are China's crude oil reserves and how do they compare to the US' SPR?
China is an importer of oil and experiencing shortage of gasoline. You
http://youtu.be/HsQSMk9adC0
Why is there a gas shortage in China? Chinese pay more for gas than
Americans while 1/5 income
Eleven months ago, the U.S. was energy independent. Now we're having to ta
our oil reserves to survive.

How did this happen?
shawn
2021-11-24 04:29:07 UTC
Reply
Permalink
Post by shawn
On Nov 23, 2021 at 11:30:44 AM PST, "chromebook test"
Post by chromebook test
Chuck Schumer (D): President Biden's announcement is good news for American
families and will strengthen our economy. Tapping the SPR will provide
much-needed temporary relief at the pump and will signal to OPEC that they
cannot recklessly manipulate supply to artificially inflate gas prices.
How big are China's crude oil reserves and how do they compare to the US' SPR?
China is an importer of oil and experiencing shortage of gasoline. You
http://youtu.be/HsQSMk9adC0
Why is there a gas shortage in China? Chinese pay more for gas than
Americans while 1/5 income
Eleven months ago, the U.S. was energy independent. Now we're having to tap
our oil reserves to survive.
How did this happen?
We quit having lockdowns everywhere and people started going back to
work in the offices, stores and restaurants.
In other words we are using more gas now than eleven months ago.
BTR1701
2021-11-24 17:40:24 UTC
Reply
Permalink
Post by shawn
Post by shawn
On Nov 23, 2021 at 11:30:44 AM PST, "chromebook test"
Post by chromebook test
Chuck Schumer (D): President Biden's announcement is good news for
American families and will strengthen our economy. Tapping the SPR
will provide much-needed temporary relief at the pump and will signal
to OPEC that they cannot recklessly manipulate supply to artificially
inflate gas prices.
How big are China's crude oil reserves and how do they compare to the US' SPR?
China is an importer of oil and experiencing shortage of gasoline. You
http://youtu.be/HsQSMk9adC0
Why is there a gas shortage in China? Chinese pay more for gas than
Americans while 1/5 income
Eleven months ago, the U.S. was energy independent. Now we're having to tap
our oil reserves to survive.
How did this happen?
We quit having lockdowns everywhere and people started going back to
work in the offices, stores and restaurants.
In other words we are using more gas now than eleven months ago.
I'm sure Biden's war on our domestic energy production had nothing to do
with it.
chromebook test
2021-11-24 18:00:07 UTC
Reply
Permalink
Post by BTR1701
Post by shawn
Post by shawn
On Nov 23, 2021 at 11:30:44 AM PST, "chromebook test"
Post by chromebook test
Chuck Schumer (D): President Biden's announcement is good news for
American families and will strengthen our economy. Tapping the SPR
will provide much-needed temporary relief at the pump and will signal
to OPEC that they cannot recklessly manipulate supply to artificially
inflate gas prices.
How big are China's crude oil reserves and how do they compare to the
US' SPR?
China is an importer of oil and experiencing shortage of gasoline. You
http://youtu.be/HsQSMk9adC0
Why is there a gas shortage in China? Chinese pay more for gas than
Americans while 1/5 income
Eleven months ago, the U.S. was energy independent. Now we're having to tap
our oil reserves to survive.
How did this happen?
We quit having lockdowns everywhere and people started going back to
work in the offices, stores and restaurants.
In other words we are using more gas now than eleven months ago.
I'm sure Biden's war on our domestic energy production had nothing to do
with it.
Domestic shale producers can't compete with cheap sweet Saudi crude.





"The industry has tried a market share war with OPEC before and it didn't work out,"

https://www.nasdaq.com/articles/u.s.-shale-producers-signal-more-oil-coming-as-opec-counts-on-restraint-2021-11-03







---------

Come and listen to a story 'bout a man named Jed ...




It ain't just about oil, it's about * C H E A P * oil. When it bubbles up naturally to the surface, it's cheap. When it has to be fracked, it is more costly. The US has already pumped all the Jed Clampett crude.






TAGS: mime, with, the, crystal, balls, Loading Image...
Rhino
2021-11-24 18:29:02 UTC
Reply
Permalink
Post by BTR1701
Post by shawn
Post by shawn
On Nov 23, 2021 at 11:30:44 AM PST, "chromebook test"
Post by chromebook test
Chuck Schumer (D): President Biden's announcement is good news for
American families and will strengthen our economy. Tapping the SPR
will provide much-needed temporary relief at the pump and will signal
to OPEC that they cannot recklessly manipulate supply to artificially
inflate gas prices.
How big are China's crude oil reserves and how do they compare to the US' SPR?
China is an importer of oil and experiencing shortage of gasoline. You
http://youtu.be/HsQSMk9adC0
Why is there a gas shortage in China? Chinese pay more for gas than
Americans while 1/5 income
Eleven months ago, the U.S. was energy independent. Now we're having to tap
our oil reserves to survive.
How did this happen?
We quit having lockdowns everywhere and people started going back to
work in the offices, stores and restaurants.
In other words we are using more gas now than eleven months ago.
I'm sure Biden's war on our domestic energy production had nothing to do
with it.
According to this article, even the relatively paltry amount Biden is
taking out of the SPR is not going entirely to the American public.
Apparently 36% is going to India and China!

https://pjmedia.com/news-and-politics/rick-moran/2021/11/24/oil-reserves-released-by-biden-will-go-primarily-to-benefit-india-and-china-n1536144
--
Rhino
BTR1701
2021-11-24 19:24:03 UTC
Reply
Permalink
Post by Rhino
Post by BTR1701
Post by shawn
On Nov 23, 2021 at 7:41:24 PM PST, "shawn"
Post by shawn
On Nov 23, 2021 at 11:30:44 AM PST, "chromebook test"
Post by chromebook test
Chuck Schumer (D): President Biden's announcement is good news for
American families and will strengthen our economy. Tapping the SPR
will provide much-needed temporary relief at the pump and will signal
to OPEC that they cannot recklessly manipulate supply to artificially
inflate gas prices.
How big are China's crude oil reserves and how do they compare to the
US' SPR?
China is an importer of oil and experiencing shortage of gasoline. You
http://youtu.be/HsQSMk9adC0
Why is there a gas shortage in China? Chinese pay more for gas than
Americans while 1/5 income
Eleven months ago, the U.S. was energy independent. Now we're having to
tap our oil reserves to survive.
How did this happen?
We quit having lockdowns everywhere and people started going back to
work in the offices, stores and restaurants.
In other words we are using more gas now than eleven months ago.
I'm sure Biden's war on our domestic energy production had nothing to do
with it.
According to this article, even the relatively paltry amount Biden is
taking out of the SPR is not going entirely to the American public.
Apparently 36% is going to India and China!
Because of course it is.
Post by Rhino
https://pjmedia.com/news-and-politics/rick-moran/2021/11/24/oil-reserves-relea
sed-by-biden-will-go-primarily-to-benefit-india-and-china-n1536144
anim8rfsk
2021-11-24 20:07:20 UTC
Reply
Permalink
Post by BTR1701
Post by Rhino
Post by BTR1701
Post by shawn
On Nov 23, 2021 at 7:41:24 PM PST, "shawn"
Post by shawn
On Nov 23, 2021 at 11:30:44 AM PST, "chromebook test"
Post by chromebook test
Chuck Schumer (D): President Biden's announcement is good news for
American families and will strengthen our economy. Tapping the SPR
will provide much-needed temporary relief at the pump and will signal
to OPEC that they cannot recklessly manipulate supply to artificially
inflate gas prices.
How big are China's crude oil reserves and how do they compare to the
US' SPR?
China is an importer of oil and experiencing shortage of gasoline. You
http://youtu.be/HsQSMk9adC0
Why is there a gas shortage in China? Chinese pay more for gas than
Americans while 1/5 income
Eleven months ago, the U.S. was energy independent. Now we're having to
tap our oil reserves to survive.
How did this happen?
We quit having lockdowns everywhere and people started going back to
work in the offices, stores and restaurants.
In other words we are using more gas now than eleven months ago.
I'm sure Biden's war on our domestic energy production had nothing to do
with it.
According to this article, even the relatively paltry amount Biden is
taking out of the SPR is not going entirely to the American public.
Apparently 36% is going to India and China!
Because of course it is.
It’s like building an atomic power plant up when the Phoenix and sending
the electricity to California. Jimmy Smits would tell you that can’t
technically be done anyway.

Maybe it’s because it’s artificial electricity?




“The last thing I want to do is hurt you, but it’s still on my list.”
The Horny Goat
2021-11-24 21:43:09 UTC
Reply
Permalink
On Wed, 24 Nov 2021 13:29:02 -0500, Rhino
Post by Rhino
According to this article, even the relatively paltry amount Biden is
taking out of the SPR is not going entirely to the American public.
Apparently 36% is going to India and China!
https://pjmedia.com/news-and-politics/rick-moran/2021/11/24/oil-reserves-released-by-biden-will-go-primarily-to-benefit-india-and-china-n1536144
Why would the president be taking out of the SPR for the benefit of
non-allies?
Rhino
2021-11-24 22:05:34 UTC
Reply
Permalink
Post by The Horny Goat
On Wed, 24 Nov 2021 13:29:02 -0500, Rhino
Post by Rhino
According to this article, even the relatively paltry amount Biden is
taking out of the SPR is not going entirely to the American public.
Apparently 36% is going to India and China!
https://pjmedia.com/news-and-politics/rick-moran/2021/11/24/oil-reserves-released-by-biden-will-go-primarily-to-benefit-india-and-china-n1536144
Why would the president be taking out of the SPR for the benefit of
non-allies?
Read the article, it's explained there but whether the explanation is
credible is up to you to decide.

By the way, China is clearly NOT an ally right now but India is at least
on the verge of being one. There is an entity called The Quad and if I'm
not mistaken, it consists of India, Japan, Australia and the US. Its
purpose is to make any attempt by China to aggress militarily against
other countries difficult. I don't think it has the agreements that
would constitute a formal alliance but it seems to be a work in
progress. Giving/selling some oil to India might not be a bad idea under
these circumstances. It has nearly as many people as China - and will
actually have more in a relatively few years - and they've fought China
before so they might be a very valuable ally if push comes to shove.
--
Rhino
BTR1701
2021-11-24 22:10:50 UTC
Reply
Permalink
Post by The Horny Goat
On Wed, 24 Nov 2021 13:29:02 -0500, Rhino
Post by Rhino
According to this article, even the relatively paltry amount Biden is
taking out of the SPR is not going entirely to the American public.
Apparently 36% is going to India and China!
https://pjmedia.com/news-and-politics/rick-moran/2021/11/24/oil-reserves-rele
ased-by-biden-will-go-primarily-to-benefit-india-and-china-n1536144
Why would the president be taking out of the SPR for the benefit of
non-allies?
Great question.
Rhino
2021-11-24 23:37:14 UTC
Reply
Permalink
Post by BTR1701
Post by The Horny Goat
On Wed, 24 Nov 2021 13:29:02 -0500, Rhino
Post by Rhino
According to this article, even the relatively paltry amount Biden is
taking out of the SPR is not going entirely to the American public.
Apparently 36% is going to India and China!
https://pjmedia.com/news-and-politics/rick-moran/2021/11/24/oil-reserves-rele
ased-by-biden-will-go-primarily-to-benefit-india-and-china-n1536144
Why would the president be taking out of the SPR for the benefit of
non-allies?
Great question.
Another question would be: Does *Biden* see the Chinese as enemies? I
know most people, Americans and others, see China as an enemy these days
but does Biden share that view? Or is he eager to be their friend,
whether to further his financial interests or because he likes their
ideology, like our own PM?
--
Rhino
The Horny Goat
2021-11-25 01:15:58 UTC
Reply
Permalink
On Wed, 24 Nov 2021 18:37:14 -0500, Rhino
Post by Rhino
Another question would be: Does *Biden* see the Chinese as enemies? I
know most people, Americans and others, see China as an enemy these days
but does Biden share that view? Or is he eager to be their friend,
whether to further his financial interests or because he likes their
ideology, like our own PM?
China may or may not be an enemy (and I'm personally leaning 65-35 to
yes on that given their documented role in FUBARing the world with how
they handled the early days of COVID plus their equally documented
interference in the Canadian election) but they are certainly not a
friend and any politician who thinks they are shouldn't be trusted
with scissors or other sharp objects.
trotsky
2021-11-25 06:52:04 UTC
Reply
Permalink
Post by BTR1701
Post by The Horny Goat
On Wed, 24 Nov 2021 13:29:02 -0500, Rhino
Post by Rhino
According to this article, even the relatively paltry amount Biden is
taking out of the SPR is not going entirely to the American public.
Apparently 36% is going to India and China!
https://pjmedia.com/news-and-politics/rick-moran/2021/11/24/oil-reserves-rele
ased-by-biden-will-go-primarily-to-benefit-india-and-china-n1536144
Why would the president be taking out of the SPR for the benefit of
non-allies?
Great question.
READ THE FUCKING ARTICLE YOU STUPID FUCKS.
Post by BTR1701
In a globally coordinated effort China, India, Japan, South Korea and the United Kingdom will also tap their reserves to try and bring down gas prices.
Ubiquitous
2021-11-30 15:53:42 UTC
Reply
Permalink
Post by The Horny Goat
Post by Rhino
According to this article, even the relatively paltry amount Biden is
taking out of the SPR is not going entirely to the American public.
Apparently 36% is going to India and China!
Why would the president be taking out of the SPR for the benefit of
non-allies?
In addition to repaying them for all that money they gave him?

--
Let's go Brandon!

BTR1701
2021-11-25 03:03:45 UTC
Reply
Permalink
Post by Rhino
Post by BTR1701
Post by shawn
Post by shawn
On Nov 23, 2021 at 11:30:44 AM PST, "chromebook test"
Post by chromebook test
Chuck Schumer (D): President Biden's announcement is good news for
American families and will strengthen our economy. Tapping the SPR
will provide much-needed temporary relief at the pump and will signal
to OPEC that they cannot recklessly manipulate supply to artificially
inflate gas prices.
How big are China's crude oil reserves and how do they compare to the
US' SPR?
China is an importer of oil and experiencing shortage of gasoline. You
http://youtu.be/HsQSMk9adC0
Why is there a gas shortage in China? Chinese pay more for gas than
Americans while 1/5 income
Eleven months ago, the U.S. was energy independent. Now we're having to tap
our oil reserves to survive.
How did this happen?
We quit having lockdowns everywhere and people started going back to
work in the offices, stores and restaurants.
In other words we are using more gas now than eleven months ago.
I'm sure Biden's war on our domestic energy production had nothing to do
with it.
According to this article, even the relatively paltry amount Biden is
taking out of the SPR is not going entirely to the American public.
Apparently 36% is going to India and China!
So it turns out Biden got absolutely played by Russia and OPEC. They waite
for us to make a move to deplete our oil reserves before announcing that the
would look to cancel production increases and offset any benefit.

Worse, because the law requires refilling the strategic reserves when
release is made, the government will likely have to pay an inflated cost t
replenish the stockpile.

This country is being run by absolute imbeciles.
moviePig
2021-11-25 04:00:24 UTC
Reply
Permalink
Post by Rhino
Post by BTR1701
Post by shawn
Post by shawn
On Nov 23, 2021 at 11:30:44 AM PST, "chromebook test"
Post by chromebook test
Chuck Schumer (D): President Biden's announcement is good news for
American families and will strengthen our economy. Tapping the SPR
will provide much-needed temporary relief at the pump and will signal
to OPEC that they cannot recklessly manipulate supply to artificially
inflate gas prices.
How big are China's crude oil reserves and how do they compare to the
US' SPR?
China is an importer of oil and experiencing shortage of gasoline. You
http://youtu.be/HsQSMk9adC0
Why is there a gas shortage in China? Chinese pay more for gas than
Americans while 1/5 income
Eleven months ago, the U.S. was energy independent. Now we're having to tap
our oil reserves to survive.
How did this happen?
We quit having lockdowns everywhere and people started going back to
work in the offices, stores and restaurants.
In other words we are using more gas now than eleven months ago.
I'm sure Biden's war on our domestic energy production had nothing to do
with it.
According to this article, even the relatively paltry amount Biden is
taking out of the SPR is not going entirely to the American public.
Apparently 36% is going to India and China!
So it turns out Biden got absolutely played by Russia and OPEC. They waited
for us to make a move to deplete our oil reserves before announcing that they
would look to cancel production increases and offset any benefit.
Worse, because the law requires refilling the strategic reserves when a
release is made, the government will likely have to pay an inflated cost to
replenish the stockpile.
This country is being run by absolute imbeciles.
How long can they delay before replenishing? Longer than a SCOTUS seat?
chromebook test
2021-11-25 04:20:03 UTC
Reply
Permalink
Post by Rhino
Post by BTR1701
Post by shawn
Post by shawn
On Nov 23, 2021 at 11:30:44 AM PST, "chromebook test"
Post by chromebook test
Chuck Schumer (D): President Biden's announcement is good news for
American families and will strengthen our economy. Tapping the SPR
will provide much-needed temporary relief at the pump and will signal
to OPEC that they cannot recklessly manipulate supply to artificially
inflate gas prices.
How big are China's crude oil reserves and how do they compare to the
US' SPR?
China is an importer of oil and experiencing shortage of gasoline. You
http://youtu.be/HsQSMk9adC0
Why is there a gas shortage in China? Chinese pay more for gas than
Americans while 1/5 income
Eleven months ago, the U.S. was energy independent. Now we're having to tap
our oil reserves to survive.
How did this happen?
We quit having lockdowns everywhere and people started going back to
work in the offices, stores and restaurants.
In other words we are using more gas now than eleven months ago.
I'm sure Biden's war on our domestic energy production had nothing to do
with it.
According to this article, even the relatively paltry amount Biden is
taking out of the SPR is not going entirely to the American public.
Apparently 36% is going to India and China!
So it turns out Biden got absolutely played by Russia and OPEC. They waited
for us to make a move to deplete our oil reserves before announcing that they
would look to cancel production increases and offset any benefit.
Worse, because the law requires refilling the strategic reserves when a
release is made, the government will likely have to pay an inflated cost to
replenish the stockpile.
This country is being run by absolute imbeciles.
How long can they delay before replenishing? Longer than a SCOTUS seat?
Biden will have to wait until after the 2024 election to replenish from Iran, so he doesn't piss-off Haim Saban

https://www.motherjones.com/politics/2016/10/haim-saban-power-rangers-hillary-clinton-top-donor/
trotsky
2021-11-25 10:36:53 UTC
Reply
Permalink
On Nov 24, 2021 at 10:29:02 AM PST, "Rhino"
Post by Rhino
  On Nov 23, 2021 at 7:41:24 PM PST, "shawn"
  On Nov 23, 2021 at 11:30:44 AM PST, "chromebook test"
  On Tuesday, November 23, 2021 at 1:54:18 PM UTC-5, BTR1701
  Chuck Schumer (D): President Biden's announcement is good
news for
  American families and will strengthen our economy. Tapping
the SPR
  will provide much-needed temporary relief at the pump and
will signal
  to OPEC that they cannot recklessly manipulate supply to
artificially
  inflate gas prices.
  How big are China's crude oil reserves and how do they
compare to the
  US' SPR?
  China is an importer of oil and experiencing shortage of
gasoline. You
  http://youtu.be/HsQSMk9adC0
  Why is there a gas shortage in China? Chinese pay more for gas
than
  Americans while 1/5 income
  Eleven months ago, the U.S. was energy independent. Now we're
having to tap
  our oil reserves to survive.
  How did this happen?
  We quit having lockdowns everywhere and people started going back to
  work in the offices, stores and restaurants.
  In other words we are using more gas now than eleven months ago.
  I'm sure Biden's war on our domestic energy production had nothing
to do
  with it.
According to this article, even the relatively paltry amount Biden is
taking out of the SPR is not going entirely to the American public.
Apparently 36% is going to India and China!
So it turns out Biden got absolutely played by Russia and OPEC. They waited
for us to make a move to deplete our oil reserves before announcing that they
would look to cancel production increases and offset any benefit.
Worse, because the law requires refilling the strategic reserves when a
release is made, the government will likely have to pay an inflated cost to
replenish the stockpile.
This country is being run by absolute imbeciles.
How long can they delay before replenishing?  Longer than a SCOTUS seat?
Good response. As opposed to Derpshit, looking like he's desperate to
scrape bottom to see how stupid he can look. He has literally zero
knowledge of the GLOBAL INITIATIVE attempting the quash the rising oil
prices but he instead embraces reality and goes off half-cocked as
usual. What a massive waste of time.
chromebook test
2021-11-25 04:16:11 UTC
Reply
Permalink
Post by Rhino
Post by BTR1701
Post by shawn
Post by shawn
On Nov 23, 2021 at 11:30:44 AM PST, "chromebook test"
Post by chromebook test
Chuck Schumer (D): President Biden's announcement is good news for
American families and will strengthen our economy. Tapping the SPR
will provide much-needed temporary relief at the pump and will signal
to OPEC that they cannot recklessly manipulate supply to artificially
inflate gas prices.
How big are China's crude oil reserves and how do they compare to the
US' SPR?
China is an importer of oil and experiencing shortage of gasoline. You
http://youtu.be/HsQSMk9adC0
Why is there a gas shortage in China? Chinese pay more for gas than
Americans while 1/5 income
Eleven months ago, the U.S. was energy independent. Now we're having to tap
our oil reserves to survive.
How did this happen?
We quit having lockdowns everywhere and people started going back to
work in the offices, stores and restaurants.
In other words we are using more gas now than eleven months ago.
I'm sure Biden's war on our domestic energy production had nothing to do
with it.
According to this article, even the relatively paltry amount Biden is
taking out of the SPR is not going entirely to the American public.
Apparently 36% is going to India and China!
So it turns out Biden got absolutely played by Russia and OPEC. They waited
for us to make a move to deplete our oil reserves before announcing that they
would look to cancel production increases and offset any benefit.
Worse, because the law requires refilling the strategic reserves when a
release is made, the government will likely have to pay an inflated cost to
replenish the stockpile.
The US could follow China's example and do what they are doing: Buy more oil from an OPEC producer like ... Iran




TAGS: LOL, LOL, LOL, LOL,#joe"iamazionist'biden #gawdbleshuhmerka!
chromebook test
2021-11-24 05:07:57 UTC
Reply
Permalink
Post by shawn
On Nov 23, 2021 at 11:30:44 AM PST, "chromebook test"
Post by chromebook test
Chuck Schumer (D): President Biden's announcement is good news for American
families and will strengthen our economy. Tapping the SPR will provide
much-needed temporary relief at the pump and will signal to OPEC that they
cannot recklessly manipulate supply to artificially inflate gas prices.
How big are China's crude oil reserves and how do they compare to the US' SPR?
China is an importer of oil and experiencing shortage of gasoline. You
http://youtu.be/HsQSMk9adC0
Why is there a gas shortage in China? Chinese pay more for gas than
Americans while 1/5 income
Eleven months ago, the U.S. was energy independent. Now we're having to tap
our oil reserves to survive.
How did this happen?
Supply and demand. Depressed oil prices caused domestic producers to cap their wells and go home. With price increases to near $80 a barrel, they begin to pump again.

"As oil prices rise, it's increasingly likely that oil production growth resumes,"

https://www.nasdaq.com/articles/u.s.-shale-producers-signal-more-oil-coming-as-opec-counts-on-restraint-2021-11-03


------

Saudis break even at $10 a barrel, US domestic shale producers break even at 50-90 dollars a barrel.
Loading...